1911 Gold Drilling Confirms Extensions of Gold Zones at Historical Central Manitoba Gold Mine
Highlights:
-
Drill results confirmed the extensions of gold mineralized structures over 400 m of strike length on the
Wentworth vein corridor and over 270 m of strike length on the Hope-Roger vein corridor.
-
Drill hole CM-22-010 intersected 2.75 metres ("m") of 2.27 grammes per tonne ("g/t") gold ("Au") at a down hole depth of 31.10 m, including 0.55 m of 10.10 g/t Au, as a 125 m step-out to the southeast of historical drillholes,
- Drill hole CM-22-009 intersected 1.25 m of 3.28 g/t Au at a down hole depth of 122.25 m, including 0.55 m of 7.23 g/t Au, along strike 270 m to the northwest of CM-22-010,
Palomar
- Drill hole PL-22-003, intersected 3.20 m of 1.90 g/t Au at a down hole depth of 135.20 m, including 0.80 m of 7.16 g/t Au, in the first drill hole drilled on this target.
In 2022, the Company drill tested the extensions of high-grade veins from both historical workings and drillholes, as well as potential for parallel vein systems well into the hangingwall along strike from the historical underground workings, in areas with no record of previous drilling. The initial program included fourteen (14) drillholes for 3,786.0 m of drilling.
The
Twelve (12) drillholes (CM-22-001 to CM-22-008, and CM-22-011 to CM-22-014), totalling 2,881.0 m, tested for extensions of high-grade gold mineralization intersected by Bison on the
Table 1: |
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|
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Target |
Drill Hole (1) |
From |
To |
Length (2)(5) |
Grade (3)(4) |
|
( |
(#) |
(m) |
(m) |
(m) |
(g/t Au) |
|
Central |
CM-22-001 |
47.15 |
47.65 |
0.50 |
0.26 |
|
|
|
87.30 |
88.00 |
0.70 |
2.15 |
|
|
CM-22-002 |
52.25 |
52.60 |
0.35 |
1.82 |
|
|
|
54.30 |
55.00 |
0.70 |
0.53 |
|
|
|
69.15 |
69.70 |
0.55 |
2.39 |
|
|
|
72.50 |
73.50 |
1.00 |
1.40 |
|
|
|
76.70 |
77.35 |
0.65 |
0.91 |
|
|
|
91.05 |
92.30 |
1.25 |
0.46 |
|
|
|
95.20 |
96.70 |
1.50 |
0.27 |
|
|
CM-22-003 |
148.10 |
148.60 |
0.50 |
0.43 |
|
|
CM-22-004 |
97.40 |
98.20 |
0.80 |
0.39 |
|
|
CM-22-005 |
117.00 |
117.50 |
0.50 |
2.30 |
|
|
CM-22-006 |
147.50 |
148.00 |
0.50 |
0.42 |
|
|
|
149.50 |
150.00 |
0.50 |
0.26 |
|
|
CM-22-007 |
152.10 |
152.60 |
0.50 |
0.64 |
|
|
|
154.20 |
155.00 |
0.80 |
0.33 |
|
|
|
198.50 |
199.20 |
0.70 |
0.59 |
|
|
CM-22-008 |
|
|
|
NSV |
|
|
CM-22-009 |
122.25 |
123.50 |
1.25 |
3.28 |
|
|
inc. |
122.25 |
122.80 |
0.55 |
7.23 |
|
|
CM-22-010 |
31.10 |
33.85 |
2.75 |
2.27 |
|
|
inc. |
33.30 |
33.85 |
0.55 |
10.10 |
|
|
CM-22-011 |
45.80 |
46.30 |
0.50 |
0.28 |
|
|
|
114.90 |
115.40 |
0.50 |
0.86 |
|
|
|
117.35 |
117.65 |
0.30 |
0.27 |
|
|
CM-22-012 |
218.30 |
219.30 |
1.00 |
1.58 |
|
|
CM-22-013 |
|
|
|
NSV |
|
|
CM-22-014 |
123.75 |
125.50 |
1.75 |
0.28 |
|
|
|
175.55 |
177.00 |
1.45 |
0.31 |
|
|
|
261.60 |
262.50 |
0.90 |
0.55 |
|
Palomar |
PL-22-001 |
38.40 |
42.00 |
3.60 |
0.39 |
|
|
|
96.80 |
100.00 |
3.20 |
0.74 |
|
|
PL-22-002 |
97.70 |
98.40 |
0.65 |
0.29 |
|
|
|
127.70 |
128.30 |
0.60 |
1.16 |
|
|
PL-22-003 |
98.00 |
98.70 |
0.70 |
0.34 |
|
|
|
100.00 |
100.90 |
0.90 |
0.37 |
|
|
|
118.50 |
119.90 |
1.40 |
0.49 |
|
|
|
135.20 |
138.40 |
3.20 |
1.90 |
|
|
inc. |
135.20 |
136.00 |
0.80 |
7.16 |
|
|
|
(1) |
Numbering reflects order in which drillholes were planned, not sequence drilled |
(2) |
Represents drill core length; true widths are presently unknown. |
(3) |
Weighted-average composites at 0.25 g/t composite grade cut-off |
(4) |
NSV, no significant values |
(5) |
Maximum of 1.60 m internal dilution and no top capping applied |
|
|
The 2022
Two (2) deeper drillholes (CM-22-009 and CM-22-010), totaling 906.0 m, were step-outs on the Roger-Hope structural corridor to the southeast, designed to test the revised structural model, the potential for extensions of the Hope and Roger zones, and the potential for previously unrecognized parallel shears further into the hanging-wall of these zones. Previous drilling by Bison intersected up to 1.78 m @ 57.99 g/t Au, including 0.49 m @ 207.37 g/t Au in drill hole CM-08-04 at a down hole depth of 191.57 m, and 3.04 m @ 9.26 g/t Au, including 0.30 m @ 87.56 g/t Au in drill hole CM-08-04 at a down hole depth of 206.85 m (see Bison press releases dated
Drillhole CM-22-009 confirms that the Roger vein continues to depth below the historical workings, intersecting 1.25 m @ 3.28 g/t Au, including 0.55 m @ 7.23 g/t Au at a down hole depth of 122.25 m associated with quartz-sulphide veins within 6.0 m of strongly sheared and altered rock, representing the host structure to the Roger vein. Drillhole CM-22-010 intersected a new gold zone that returned 2.75 m @ 2.27 g/t Au, including 0.55m @ 10.10 g/t Au from 31.10 m downhole, confirming the presence of mineralized structures well into the hangingwall south of historical workings, and highlighting the potential for additional structures along strike to the southeast in the block of favourable stratigraphy between the North Carbonate and
Palomar is a significantly underexplored area located 20 km east of the True North mill and mine complex. In late 2022 the Company completed a maiden drill program consisting of three (3) drillholes, totalling 603.0 m, to test two parallel structures that returned high-grade gold values from grab and channel samples (up to 2.40 m @ 10.60 g/t Au). The structures range up to 5 m in thickness and are spaced approximately 20 m apart, over an exposed strike length of 125 m on surface.
These drillholes, spaced roughly 70 m apart along the structural trend, confirmed that the mineralized structures continue to depth, yielding anomalous to low-grade gold values. Of note in drillhole PL-22-003 is the presence of three spatially separate zones, the deepest of which is a distinct zone of sheeted laminar quartz veins that returned 3.20 m @ 1.90 g/t Au, including 0.80 m @ 7.16 g/t Au from 135.20 m downhole. The mineralized structures remain open in all directions.
Table 2: Drill Hole Details |
|||||||
Target |
Drill Hole |
Easting |
Northing |
Elev. |
Length |
Az. |
Inc. |
( |
(#) |
(NAD83; UTMZ15) |
(m) |
(m) |
(°) |
(°) |
|
Central Manitoba |
CM-22-001 |
336184 |
5641379 |
336 |
272.0 |
015 |
-65 |
|
CM-22-002 |
336060 |
5641370 |
335 |
149.0 |
015 |
-45 |
|
CM-22-003 |
335960 |
5641333 |
335 |
200.0 |
015 |
-45 |
|
CM-22-004 |
335865 |
5641447 |
333 |
231.3 |
015 |
-55 |
|
CM-22-005 |
336023 |
5641329 |
337 |
191.0 |
015 |
-50 |
|
CM-22-006 |
335902 |
5641354 |
334 |
200.0 |
015 |
-55 |
|
CM-22-007 |
336166 |
5641317 |
336 |
251.0 |
015 |
-65 |
|
CM-22-008 |
335630 |
5641417 |
333 |
356.0 |
015 |
-65 |
|
CM-22-009 |
336480 |
5641111 |
332 |
507.5 |
012 |
-70 |
|
CM-22-010 |
336730 |
5641027 |
327 |
398.0 |
010 |
-50 |
|
CM-22-011 |
336238 |
5641335 |
336 |
203.2 |
015 |
-59 |
|
CM-22-012 |
336212 |
5641271 |
337 |
290.0 |
015 |
-57 |
|
CM-22-013 |
336027 |
5641301 |
334 |
230.0 |
017 |
-60 |
|
CM-22-014 |
336140 |
5641247 |
334 |
307.0 |
015 |
-60 |
Palomar |
PL-22-001 |
333158 |
5650737 |
326 |
200.0 |
032 |
-46 |
|
PL-22-002 |
333272 |
5650671 |
320 |
200.0 |
030 |
-45 |
|
PL-22-003 |
333217 |
5650701 |
320 |
203.0 |
030 |
-45 |
In late 2023 the Company commenced a detailed review of the current National Instrument ("NI") 43-101 resource ("Technical Report for the
The Company has completed compiling and validating all relevant data, including reviewing wireframes, assay composites, block models, and estimation parameters. This process identified several unclassified areas with resource expansion potential. These areas, along with other known mineralized zones, will be the focus of additional resource potential studies. Subsequently, efforts will shift to updating the MRE and targeting extensions of the resource and new areas for potential inclusion in future updates. The updated and confirmed new MRE will serve as the basis for an economic review of possible development scenarios.
The Rice Lake Gold Property is located on the
Technical information in this news release has been reviewed and approved by
ON BEHALF OF THE BOARD OF DIRECTORS
President and CEO
This news release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
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Neither
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